Friday, July 24, 2009

FN: Yesterday's rally was impressive to be sure. Volume pickd up to match and important levels were broken to the upside. However, yesterday was NOT a "Major Accumulation Day". Not even close. The ratio of up volume to down volume was 5:1.

Breakout or fakeout? Markets have really stretch deep into overbought territory. Was this the blowout top of the move?

FN: Yesterday's rally was impressive to be sure. Volume pickd up to match and important levels were broken to the upside. However, yesterday was NOT a "Major Accumulation Day". Not even close. The ratio of up volume to down volume was 5:1.

Breakout or fakeout? Markets have really stretch deep into overbought territory. Was this the blowout top of the move?

Disclaimer

The Financial Ninja is a collection of my thoughts and opinions about current economic and market conditions. These are not buy and sell recommendations. Use your head and do your own research. This is a forum to stimulate discussion and debate.

About Me

I started trading during the tech bubble when I was still in high school. My trading has financed my education and I have since completed a BA in Economics and an MBA with a concentration in Finance. I have worked as both a proprietary equity and fixed income derivatives trader.